ECONOMYNEXT – Sri Lanka sold only 45 billion rupees in Treasury bills at Wednesday’s auction after offering 120 billion rupees, data from the state debt office showed, amid market confusion over a spike in a two year bond at an earlier action.
30.1 billion rupees of 3-month bills were sold at 29.91 percent, unchanged from a week earlier after offering 60 billion rupees for auction.
5.1 billion rupees of 6-month bills were sold at 28.72 percent, flat after offering 30 billion.
10.3 billion rupees of 12-month bills were sold at 27.72 percent after offering 30 billion.
Phase II subscriptions have been opened.
The market was foxed after the 2025 bonds were accepted at sharply higher yield than market on January 30, dealer said.
There was further confusion as the there was an outright purchase of 2025 at around 29 percent earlier in January.
Some investors speculated that the authorities were trying to drive more buyers towards short end bonds as bill volumes were getting larger. (Colombo/Feb01/2023)
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